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Bloomberg Beijing pledged to respond if the US insists on adding extra tariffs to the remainder of Chinese imports, as President Donald Trump’s abrupt escalation of the trade war between the world’s largest economies sent stocks tumbling across three continents. Trump announced that he would impose a 10% tariff on a further $300 billion in Chinese imports, a move set ...

Bloomberg Factories across Asia and Europe are increasingly feeling the brunt of the festering U.S.-China trade war that shows no imminent sign of ending. Purchasing managers’ indexes from some of the largest economies on both continents remained below 50 in July, signaling contractions in industrial output. Germany, the motor of Europe’s growth, is mired in its worst manufacturing slump in ...

Bloomberg When a potential cliff-edge Brexit loomed last spring, Albion Stone stockpiled equipment and materials as a precaution against disruptions. Not this time around. Michael Poultney, the business director at the Redhill, England-based firm, is still smarting after spending more than $240,000 on preparations, only to see Britain’s exit from the European Union pushed back to October 31, or perhaps ...

Bloomberg Supercar manufacturers typically operate in the rarefied sphere of recession-proof consumption, where wealthy customers possess enough money to drop $300,000 or more on their purchases. Ferrari NV experienced the limits of that behaviour, reporting growth in the second quarter far behind the first three months of the year, sending its stock tumbling. Both profit and shipments slowed from more ...

Bloomberg Alphabet Inc’s Google will require rivals to bid in order to become listed as alternative search providers on Android smartphones, a move to try to keep additional antitrust scrutiny at bay. Starting next year, Google will prompt users to make a choice between Google and three other rival options as their default search provider. Google invited search providers to ...

Bloomberg President Donald Trump said that North Korea’s recent tests of short-range rockets and missiles may run afoul of United Nations resolutions but haven’t violated agreements with his administration. North Korea conducted its third test in a week of a new short-range ballistic missile that weapons experts say was designed to strike US allies in East Asia. Its leader Kim ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), has expanded its sustainable finance outreach to Kenya. The Financial Services Regulatory Authority (FSRA), of ADGM and the Capital Markets Authority (CMA), of Kenya entered into a Memorandum of Understanding on Wednesday to enhance cooperation in sustainable finance in each other’s markets. Paul Muthaura, Chief Executive of CMA, and Philippe Richard, Executive Director-International ...

Abu Dhabi / WAM The number of live births registered in Abu Dhabi over the past ten years has increased by 34 percent, with 38,285 babies born in 2018, compared with 28,456 in 2008. According to a report issued by the Statistics Centre in Abu Dhabi, the number of live births nearly tripled between 1977 and 2018, an increase of ...

ABU DHABI / WAM The Federal Tax Authority (FTA), announced that the sale and possession of all types of cigarettes not bearing ‘Digital Tax Stamps’ will be prohibited across UAE markets starting August 1. In a press statement released on Wednesday, the Authority explained that two types of Digital Tax Stamps were approved, the first of which is ‘Red’ and ...

Abu Dhabi / WAM The Khalifa bin Zayed Al Nahyan Foundation has received a thank you letter from the Director-General of the Agriculture and Irrigation Office in Yemen, Fahmi Al-Ghathanim, in which he expressed his appreciation to the Foundation for its conservation efforts in the Socotra archipelago. In the letter, the Yemeni official detailed the UAE’s efforts in the conservation ...